- Goldman Sachs (NYSE:GS) is selling its Colombian mining operation to privately-held Murray Energy at a substantial loss, marking the end of the bank’s foray into the production of raw materials.
- Murray reportedly closed the deal for less than $10M after Goldman spent more than $600M on the operation.
- The deal includes two mines, more than 184M tons of coal reserves, a coal port facility, a stake in a railroad, 11 locomotives, 530 railcars and other assets.
- Goldman had come under heavy political and regulatory pressure in recent years to get out of risky commodity businesses, particularly those involving the ownership of assets.
Goldman Sachs sells Colombia coal unit to Murray Energy at steep loss
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Symbol | Last Price | % Chg |
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GS | - | - |
The Goldman Sachs Group, Inc. |